Level playing field?

Dear Editor, It is interesting to read comments, following the Chancellor's Pre-Budget Statement, that the advantages of scheme pensions, under SSAS and family pension trusts, are now gone and that there will be a "level playing field" between scheme pensions and alternatively secured pensions. This is a clear simplification of the position. What the statement said was: "Legislation will be introduced in Finance Bill 2008 to ensure that tax-relieved pension savings diverted into inheritance using scheme pensions and lifetime annuities are subject to unauthorised payment tax charges and,...